DHFL shares gain 4% on approval to raise funds

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Dewan Housing Finance Corporation Ltd share price gained as much as 4 per cent in the early trade on Thursday after it informed bourses that the company has received an approval to raise funds up to Rs 5,100 crore, subject to market conditions, by way of a secured or unsecured debt issue by means of a private placement or listed on any offshore or onshore stock exchanges.
The board of directors at its meeting held on March 09, 2016 has approved for the same.
At 9.43 am (IST), Dewan Housing Finance Corporation Ltd (DHFL) shares were trading 3.61 per cent up at Rs 183.70. The scrip opened at Rs 180 and has touched a high and low of Rs 184.35 and Rs 180, respectively. in trade. Sensex was trading 87.68 points, or 0.35 per cent, up at 24,706.28.
DHFL board has declared second interim dividend for the financial year 2015-16, of Rs 3 per share.
The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 268.00 on Aug 10, 2015 and a 52-week low of Rs 140.55 on Feb 12, 2016.
For the quarter ended December 2015, the company reported net profit of Rs 185.90 crore, up 16.43 per cent, against Rs 159.66 crore in the corresponding quarter a year ago.
Dewan Housing Finance Corporation is among the oldest private sector Housing Finance Companies (HFC) in India.